TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,832.85, up 55.74 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Up 15 cents, or 10.56 per cent, to $1.57 on 29.8 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 28 cents, or 1.04 per cent, to $26.62 on 10.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 12 cents, or one per cent, to $12.10 on 10.3 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 13 cents, or 6.34 per cent, to $1.92 on 7.4 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up eight cents, or 5.76 per cent, to $1.47 on 6.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 24 cents, or 0.42 per cent, to $57.13 on 4.9 million shares.
Companies in the news:
Shopify Inc. (TSX:SHOP). Up $50.44 or 7.7 per cent to $705.90. Shopify Inc.’s stock skyrocketed to a record level after the e-commerce company reported 47 per cent revenue growth compared with the same quarter last year. The Ottawa-based retail technology business saw its stock spike after it reported revenue totalling nearly US$505.2 million for the three-month period that ended Dec. 31, up from about US$343.9 million a year earlier. Shopify executives said on a call with analysts that the revenue lift was courtesy of holiday sales, new currency and payment features and a slew of new merchants using its software, including entertainment giant Cirque du Soleil, apparel retailer Mark’s, rapper Travis Scott and footwear brand Toms.
Cenovus Energy Inc. — Crude-by-rail shipments by oilsands producer Cenovus Energy Inc. jumped to 120,000 barrels per day in January from 106,000 in December but the company says it didn’t buy any Alberta provincial rail contracts. On Tuesday, the United Conservative government said it would take a loss of $1.3 billion on deals to unload contracts struck by the previous NDP government to lease more than 4,000 rail cars to transport 120,000 bpd of crude to the U.S. Gulf Coast. Cenovus CEO Alex Pourbaix said Alberta’s oil curtailment program is working and it should be used to win better prices and higher royalties for the government until sufficient pipeline capacity is in place. The province has said the program will end this year.
Molson Coors Beverage Co. (TSX:TPX.B). Down $2.35 or three per cent to $76.07. Molson Coors Beverage Co. reported a fourth-quarter profit of US$163.7 million, up from US$76.0 million in the same quarter a year earlier. The brewer, which keeps its books in U.S. dollars, says the profit amounted to 75 cents per share for the quarter ended Dec. 31, compared with a profit of 35 cents per share in the fourth quarter of 2018. Net sales totalled nearly US$2.49 billion, up from nearly US$2.42 billion. The increase came as U.S. net sales rose 4.7 per cent compared with year ago, but fell 4.6 per cent in Canada. European net sales rose 1.1 per cent, while the international segment climbed 7.5 per cent. Molson Coors says its underlying profit for the quarter amounted to US$221.5 million or US$1.02 per share compared with an underlying profit of US$182.3 million or 84 cents per share in the same period a year earlier.
Barrick Gold Corp. (TSX:ABX). Down 14 cents to $24.39. Barrick Gold Corp. raised its dividend as it reported a fourth-quarter profit of nearly US$1.39 billion. The gold miner, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of seven cents per share, up from a nickel per share. The increased payment to shareholders came as Barrick earned 78 cents per share in the quarter ended Dec. 31 compared with a profit of nearly US$2.28 billion or US$1.30 per share in its third quarter. On an adjusted basis, Barrick says it earned 17 cents per share in its fourth quarter, up from 15 cents per share in its third quarter. Analysts on average had expected an adjusted profit of 14 cents per share in Barrick’s latest quarter, according to financial markets data firm Refinitiv.
This report by The Canadian Press was first published Feb. 12, 2020.
The Canadian Press